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Fu Shou Yuan: Executive Director Wang Jisheng Removed, Shares Remain Suspended
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On September 25, Fu Shou Yuan International Group (01488.HK) announced a supplementary disclosure detailing the reasons for the dismissal of executive director Wang Jisheng. According to the company, the dismissal was prompted by an official investigation by authorities that may involve Wang, as well as suspicious transactions identified by an independent forensic investigation. The board stated that Wang disputed the facts and views, filing a complaint, but the board assessed his allegations as lacking substantive basis and determined that the dismissal serves the best interests of the company and its shareholders. Additionally, the company's shares have been suspended from trading since March 20, 2026, and will continue to be suspended until further notice. The report originates from Southern Finance Network.
Source report
September 25 (Southern Finance) — Fu Shou Yuan International Group (01448.HK) has issued a supplementary announcement detailing the key facts and considerations behind the removal of Executive Director Wang Jisheng.
According to the announcement, the reasons for the removal include:
- An official investigation launched by the competent authorities into certain incidents that may involve Wang Jisheng.
- An independent forensic investigation that identified several suspicious transactions related to Wang Jisheng.
Wang Jisheng has disputed the above facts and the Board's views, and has filed a complaint. After evaluation, the Board concluded that his allegations lack substantive basis and that the removal is in the best interests of the Company and its shareholders as a whole.
Additionally, trading in the Company's shares has been suspended since March 20, 2026, and will remain suspended until further notice.
Source: Southern Finance Network
Source
南方财经网Regional
Part of this Story
Fu Shou Yuan ousts president Wang Jisheng over 8.27M yuan in suspicious transactions